Research Information System
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.397-408
The worldwide experience proves a special role and an importance of small and medium enterprises within the national economies. The business sector and especially the Small and Medium-sized Enterprises (SMEs) play an important role in the development of the economy and a significant contribution to the sustainable and inclusive growth. SMEs, having enormous potential in employment generation and job creation, as well as in fostering economic growth, could be considered a backbone of each country 's economy. A strong and well-developed SME sector contributes significantly to export, innovation, and creation of modern entrepreneurial culture, playing at the same time a significant role in achieving prosperity in the country. The rise and development of SME's sector is undoubtedly necessary, since it is difficult to imagine the rising of overall standards of living without such development. The purpose of this research is the evaluation of the potential role of SMEs on the future economic growth and development of Azerbaijan. On this research paper the characteristics classifications and roles of SME on different national economies will be analyzed as well.